Henderson's Swindon Designer Outlet to see £35 mln. investment (UK)

Henderson Global Investors, on behalf of its Swindon Designer Outlet center, has submitted a planning application for the development of more than 50,000 ft² (approx. 4,645 m²) of new retail and catering space at the center.

The £35 million development at Swindon Designer Outlet will enhance the existing center

Swindon Designer Outlet is managed by McArthurGlen, Europe's largest designer outlet group. It is owned by Henderson Global Investors, as part of its ca. £400 million (approx. 495 million) UK Outlet Mall Fund, in which McArthurGlen is also an investor.

The £35 million (approx. 43 million) development at Swindon Designer Outlet will enhance the existing center and involves the regeneration of the historic Long Shop, built in 1874 as part of the grade II-listed Great Western Railway Works, which will become part of the center. Once converted, the Long Shop, located opposite STEAM  the Museum of the Great Western Railways, will house up to 30 new retail units. The development also involves an exciting new external quarter as well as a new restaurant offering.

Andrew Rich, Fund Manager for the Henderson UK Outlet Mall Fund, added: "Investment in retail properties is a major part of Henderson's total £12.5 billion of property assets under management. Swindon is a very successful center within our outlet mall portfolio, and the expansion is part of our investment strategy to continue to deliver strong performance for our investors."

Henrik Madsen, Managing Director, McArthurGlen, says: "This new development is part of a major master plan for Swindon Designer Outlet which will lift the whole center into a new league of retail destination. This will further establish the center as the must-visit, shopping destination in the South West and immediate local area, as consumers look for the most sought-after names in fashion at up to 60% less in a quality shopping environment."

Swindon Designer Outlet is currently home to over 90 premium, designer and high-street brands with the best names in fashion, beauty, sportswear and homewares, and offering year-round savings of up to 60%. Leading brands at the center include, Hugo Boss, Jaeger, LK Bennett, Next, Superdry, Ted Baker and Tommy Hilfiger.

The center, which was developed by McArthurGlen and which first opened in 1997, currently offers 207,000 ft² (approx. 19,230 m²) of retail space.